The evolutionary stability of constant consistent conjectures
In the general context of smooth two-player games, this paper shows that there is a close connection between (constant) consistent conjectures in a given game and the evolutionary stability of these conjectures. Evolutionarily stable conjectures are consistent and consistent conjectures are the only interior candidates to be evolutionarily stable. Examples are provided to illustrate the result.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Dockner, Engelbert J, 1992. "A Dynamic Theory of Conjectural Variations," Journal of Industrial Economics, Wiley Blackwell, vol. 40(4), pages 377-95, December.
- Lindh, Thomas, 1992.
"The inconsistency of consistent conjectures : Coming back to Cournot,"
Journal of Economic Behavior & Organization,
Elsevier, vol. 18(1), pages 69-90, June.
- Lindh, T., 1988. "The Inconsistency Of Consistent Conjectures: Coming Back To Cournot," Papers 1988d, Uppsala - Working Paper Series.
- Robert Michaels, 1989. "Conjectural variations and the nature of equilibrium in rent-seeking models," Public Choice, Springer, vol. 60(1), pages 31-39, January.
- Bresnahan, Timothy F, 1981. "Duopoly Models with Consistent Conjectures," American Economic Review, American Economic Association, vol. 71(5), pages 934-45, December.
- Milgrom, Paul & Roberts, John, 1990. "Rationalizability, Learning, and Equilibrium in Games with Strategic Complementarities," Econometrica, Econometric Society, vol. 58(6), pages 1255-77, November.
- Friedman, James W. & Mezzetti, Claudio, 2002. "Bounded rationality, dynamic oligopoly, and conjectural variations," Journal of Economic Behavior & Organization, Elsevier, vol. 49(3), pages 287-306, November.
- Boyer, Marcel & Moreaux, Michel, 1983.
"Consistent versus Non-Consistent Conjectures in Doupoly Theory: Some Examples,"
Journal of Industrial Economics,
Wiley Blackwell, vol. 32(1), pages 97-110, September.
- Boyer, M. & Moreaux, M., 1982. "Consistent Versus Non-Consistent Conjectures in Duopoly Theory: Some Examples," Cahiers de recherche 8206, Universite de Montreal, Departement de sciences economiques.
- Jean-Marie, Alain & Tidball, Mabel, 2006. "Adapting behaviors through a learning process," Journal of Economic Behavior & Organization, Elsevier, vol. 60(3), pages 399-422, July.
- Dixon, Huw D. & Somma, Ernesto, 2003. "The evolution of consistent conjectures," Journal of Economic Behavior & Organization, Elsevier, vol. 51(4), pages 523-536, August.
- Wieland Müller & Hans-Theo Normann, 2005. "Conjectural Variations and Evolutionary Stability: A Rationale for Consistency," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 161(3), pages 491-, September.
- Costrell, Robert M., 1991. "Immiserizing growth with semi-public goods under consistent conjectures," Journal of Public Economics, Elsevier, vol. 45(3), pages 383-389, August.
When requesting a correction, please mention this item's handle: RePEc:eee:jeborg:v:72:y:2009:i:1:p:21-29. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei)
If references are entirely missing, you can add them using this form.